In a trading update at its AGM WPP reported like for like revenue growth of 7.6% but margins were 2.5% weaker sending its share price down today.
WPP reported revenues for first five months up 1.2% at £4.425 billion in sterling, up 9.5% at $7.370 billion in dollars and up 4.5% at €5.365 billion in euros.
Constant currency revenues up 9.8%, like-for-like revenues up 7.6%.
Constant currency gross margin or net sales up 5.9%, like-for-like gross margin or net sales up 4.0%.
Negative impact of exchange rates on reported revenue -8.6% in first five months.
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